Life Sciences/Healthcare

Other

Please Note: Corporate bond investment analyses issued by Heber Fuger Wendin, Inc. (“HFW”) reflect HFW’s current opinions of the relative credit risk of the corporate issuer. HFW defines the term “credit risk” as the chance that a corporation may not meet its contractual and/or financial obligations as they come due and the estimated financial loss in the event of default. This analysis does not evaluate any other risk, including but not limited to liquidity risk, market value risk and price volatility. This analysis is an HFW opinion, not fact, and is not investment advice nor recommendations to buy, sell or hold corporate securities and does not address suitability or whether it is in the best interest of a given investor; it is only part of the analyses that investors should perform before making such decisions. HFW issues these reports so that investors can make their own evaluation of the security in question. Although HFW has obtained information in this report from sources that it believes to be reliable, HFW does not audit the information nor guarantee its accuracy.